A handful of Irish-related shares, including Tullow Oil, Glanbia and Bord Gáis owner Centria, were among the big stock market losers in Europe in the past year. Flutter Entertainment, which owns Paddy Power and Betfair, as well as Ryanair and Kerry Group were, however, among the big winners.
The Irish Congress of Trade Unions (Ictu), the umbrella body for unions across Ireland, has warned of “a catastrophe” if the UK crashes out of the EU, while the Government’s National Treasury Management Agency (NTMA) said Irish bonds have already been affected by concerns over a no deal Brexit.
The loss of almost 500 jobs at Canadian company Bombardier in Belfast will have a disproportionately hard effect on the North’s economy. It will also show up its over-reliance on public service employment at a time of great stress over the Brexit talks, say experts.
The experts predict that a defeat may be snatched from the jaws of victory, with logic lacking in the Brexit negotiations. From local concerns to the international outlook,report on this week’s Brexit progress.
The South African Spar retailing group says it is positively cautious about the effects of Brexit for its retailing interests in Ireland and the southwest of England. The Johannesburg-stockmarket-listed group owns 80% of BWG Spar and operates chains in Ireland and England, under its Spar Ireland division.
Consumer and financial experts have called on regulators to probe the grip held by AIB and Bank of Ireland on the banking market. The calls come after ECB head Mario Draghi told the Oireachtas Finance Committee on Thursday that a “quasi-monopoly” was driving up the costs of credit for homes and business borrowers.
Shares in Kerry Group have risen 2.5% after the food firm said it was in good financial shape to continue its worldwide acquisitions drive and to withstand fast-flowing changes in consumer preferences. In an interim management statement, Kerry said that it increased sales volumes and revenues and maintained its profit margins, with pricing having fallen only slightly in the group in the third quarter.
The scrap among EU countries, with Ireland very much at the centre of the fight, over a proposed tax on tech giants, is set to resume later today when finance ministers try to strike a balance between luring business and addressing popular discontent about companies not paying their fair share.
The exchequer brought in much less in Vat receipts than it anticipated in October, while corporation tax receipts surged as the Government, as it had anticipated, got the first of its huge windfalls made up of advance payments by multinationals.
Credit unions are the top Irish brands for customer experience even as their bank rivals failed to make the top 50, while Ryanair and the social media giants such as Facebook slumped in the rankings, according to a major survey measuring how Irish shoppers were treated by companies.